Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Automotive supplier Bosch Automotive Steering announced that it intends to cut 1,850 jobs at its site in Schwäbisch Gmünd by the end of 2026. The company and the works' council agreed on a redundancy programme that excludes compulsory redundancies. The job cuts are to be realised by early or partial retirement schemes and voluntary leaves. Already in December 2019, parent company Bosch had announced a larger redundancy programme affecting different parts of the company and leading to a total job loss of around 3,500 jobs. Regarding the site in Schwäbisch Gmünd, the company also stated it would make an investment worth €350 million, to develop new technologies and product lines and provide a long-term perspective for the establishment in Schwäbisch Gmünd.
Eurofound (2020), Bosch Automotive Steering, Internal restructuring in Germany, factsheet number 101220, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101220.